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Loonie on the move as Poloz moves closer to rate hike

Published 06/28/2017, 08:40 AM
© Reuters.  Loonie on the move as Poloz moves closer to rate hike
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  • In an interview ahead of a policy panel with a trio of other central bank chiefs, Bank of Canada Governor Stephen Poloz doubles down on his bank's recent hawkishness. Extremely low rates have done their job, he says, and excess capacity is steadily being used up.
  • Whether the bank will hike in July remains to be seen, but surely a move is coming this year.
  • Maybe now eyeing perky asset prices as much as inflation and growth, there's been a clear notable hawkish shift among central banks in the U.S., Europe, U.K., and Canada.
  • The loonie (NYSEARCA:FXC) is higher by nearly 1% vs. the greenback at $0.7644.
  • Now read: Best Currency Positions For May 2017


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